This year Cobalt 27 acquired from Vale, the world’s first pure cobalt stream for US$300 million on Vale’s Voisey’s Bay mine located in Labrador. The stream, which is expected to deliver approximately 1.9 million pounds of cobalt per year to Cobalt 27, is to be settled in physical delivery for the life of the mine.

Also in 2018, Cobalt 27 acquired a 1.75% net smelter return royalty (NSR) on RNC Minerals’ construction-ready Dumont nickel-cobalt project in Quebec, which includes the world’s largest undeveloped cobalt reserve; and, a 2% NSR on Giga Metals’ Turnagain nickel-cobalt project located in British Columbia, one of the largest undeveloped sulphide nickel-cobalt deposits in the world (in terms of total contained nickel).

The Voisey’s Bay stream entitles Cobalt 27 to 32.6% of the mine’s finished cobalt production commencing January 1, 2021, until it receives 23.8 million lb. cobalt, and then 16.3% of the mine’s finished cobalt production for the rest of the mine’s life.

“The Voisey’s Bay Cobalt Stream is a world-class, once in a lifetime opportunity to partner on the greatest nickel-sulfide discovery in the past 30 years. Vale is currently undergoing a US$1.7 billion underground expansion at the open pit mine, which is expected to extend the life of mine to 2034.